Archive for the ‘Russia’ tag

The Russian economy goes from bad to worse. Treasury now expects a decline in gross domestic product in 2009 to 2.2 percent. From an earlier forecast of 0.2 percent. in negative growth. It says Russia’s Deputy Economics Minister Andrei Klepach, according to Bloomberg News.

Had high hopes

In the autumn forecast was positive, with different expectations of up to 6 percent. in growth in 2009, but has only gone one way – downwards. Eventhough Russia fare from is hte only large economy in the world, that is experiencing the crisis coming closer, it is extra tough on this fragile economy read more aboute the Russian economy here

Yet another rating agency has swung the wip over Russia, lowering the rating of the country’s finances. This is the second time in a short while that a rating agency has lowered the rating of Russia’s finances. Russia is the only menber of the G8-club, that has experienced that the rating was influenced negativly by the financial crises.

It is no longer a good time for russian economy and this is showing through devaluation of the russian valuta – the rubel – that these past month has falling drasticly. Russia can however take a look at the economies in the rest of the world, where the likely situations are taking place.

Down by one fifth

Today the rubel went to a new lowpoint reaching the lowest value toward the euro and dollar since the breakdown of the Sovjet Union. A euro costed today 42,55 rubels while a dollar costed 32,24 rubles. This means that the rubel has lost one fifth in value since the financial crisis started for real in august last year. read more aboute the devaluation of the rubel here

That is a good question. The answer is, that Carlsberg aboute a year ago decided to try to expend their share of the market worldwide. They bought themselves into a russian brewery, believing that they made a bargin. Problems?

Falling oliprices

It is a problem worldwide for the oil producing countries that they have not been able to stabilize the oil prices. Russia is, as most other countries hit by the falling prices. This has amongst other factors made the russian consumers put their money back in their pockets. read more aboute Carlsbergs set backs in Russia here